Regardless of the type of business, the insurance paid to group pension insurance policies is taxed independently, (Par. 3 of article 7 of Law 4110/13) as follows:

a) Fifteen per cent (15%) rate for each periodically paid benefit.

b) Ten percent (10%) rate for a lump sum paid benefit up to forty thousand Euros (€ 40,000) and twenty per cent rate (20%) for a lump sum payment if the amount exceeds forty thousand Euros (€ 40,000).

The rates of the above cases are increased by fifty percent (50%) in the case the beneficiary collects the early redemption amount. Any payment made to an employee who has a pension entitlement or is over 60 years of age and any payments made without the will of the worker, such as dismissal of the employee or bankruptcy of the employer shall not be regarded as an early redemption.

Before the entry into force of the provisions of paragraph 3 of Article 7 of Law 4110/2013 (23.1.2013), the benefit paid – insurance (that is carried out in the context of group pension schemes e.g. DAF) which insurance companies contracted for their employees was an income from paid services, (conditions are applicable).